Understanding costs and budgets in an organisation (ilm level 3)

Date:

14 November 2018 09:30 am - 04:30 pm

Course duration:1 day

Venue:Reidvale Neighbourhood Centre

Costs:Members £280.00 / Non-Members £380.00

This course is for anyone who needs to understand the place that budgets play in the daily routines of the workplace. It is specifically aimed at those who are wanting to progress in their career and who recognise that in order to do that they will need to get their head around the money!

The purpose of this introductory course is to develop your knowledge and understanding of costs and budgets in your Association/Cooperative and particularly in your department.

Content

The nature and purpose of budgets, and the advantages of budgetary control

Methods to monitor variance of actual performance against budget

Causes of variance, their significance and ways of reducing adverse effects

How to gather information for use in determining and/or revising budgets

Definition of fixed and variable costs; concept of break even, especially in relation to own department/organisation

The purpose and nature of basic cost statements; use of standard costs

Role of the manager in cost control

Mechanisms to maintain control of costs, and how to select the optimum method

Learning Outcomes

Understand how to work to budget within your organisation/department

Understand costs within an organisation/department

As this is a unit in the ilm level 3 Award in Leadership & Management you will be asked to complete an assignment in which you will be required to demonstrate your knowledge of working to budgets and that you understand costings.